Bloomingdale School of Music

What it reported doing in 2024

For over 60 years at bloomingdale, our core community has stretched from w. 86th street to w. 125th street, from central park to the hudson river, while our signature scholarship programs draw from four of the boroughs of nyc. Our students come from areas as close as next door and as far as brooklyn and the bronx. Additionally, with online programming, we've been able to extend our reach as far as upstate New York and japan. Our families form a network, helping their loved ones get to and from lessons, encouraging regular practice, attending our community concerts, and enjoying their own musical experience through bloomingdale.(continued on schedule o)bsm's after school and weekend program provides private and group instruction to approximately 780 students of all ages weekly on more than 20 instruments, including cello, clarinet, flute, guitar, percussion, piano, saxophone, trombone, violin, and voice, as well as several ensemble opportunities. Additionally, the program offers an early childhood track, with various classes utilizing dalcroze and orff approaches for children aged 3 months to 6 years. Bsm's faculty is comprised of exemplary instructors, coaches, and mentors, with 80% holding advanced degrees in music. The music access project (map) is a full scholarship, multi-year pre-college conservatory training program for talented low-income and underserved students. Annually, map serves between 18 to 21 students selected by audition. Students receive a comprehensive music education including a 60-minute private lesson, 90-minute chamber music coaching, weekly orchestra or jazz ensemble rehearsal, theory classes, and special monthly workshops. Roughly 200 map alumni have graduated from the program, and 98% have gone on to study at the college level, many finding work as professional musicians, arts administrators, and music teachers in the New York city public school system. Project bridge is a program that aims to support nyc public school students and teachers in existing instrumental programs in secondary schools. Participating students receive a free weekly 45-minute private instrument lesson throughout the year at bloomingdale. Instruction is designed to reinforce and support the work being done by the public school teacher. Pb serves between 10 and 15 students annually. The professional training program is a one to three-year intensive program designed for young pianists who are interested in eventually attending a pre-college music program such as bsm's music access project. Students receive weekly private instructions, chamber ensemble opportunities, music theory classes, and performance courses throughout the year. Bloomingdale training program: bloomingdale training program (btp) is a comprehensive music education program with piano, strings, and guitar tracks. It is an intensive program designed for students ages 8 to 17 who are interested in making the most of their music education by enhancing their private lesson studies with chamber music, theory, and other special events. Btp offers sliding scale discounts based on financial need, removing barriers preventing students from participating. Btp aims to strengthen students' musical abilities and provide them with the required tools to push them to the next level of achievement. Bsm's free faculty concert series presents 20 to 25 free concerts each year, serving audiences of over 2,000 people per year. These concerts, curated and performed by bsm's faculty of professional musicians, offer a rich variety of free, high-quality performances that are entertaining and informative, presenting a wide range of musical styles and traditions. Concerts are hosted free of charge at bsm's home on west 108th street, allowing anyone in nyc to experience live music in an intimate community setting. The bloomingdale student new music project is a series of commissions, collaborations, web features, and performances that promote the process of creating original music among childr

Financial Efficiency

• Mission deployment rate: 71.4%; rating input score 71
• Program expense ratio: 75.2%; rating input score 75
• Fundraising efficiency: $5.41 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 5.3%; rating input score 51; 51st percentile among comparable filings
• Total-asset coverage ratio: 0.67; rating input score 25; 25th percentile among comparable filings
• Liabilities to assets ratio: 0.22; rating input score 41; 41st percentile among comparable filings
• Officer compensation ratio: 7.8%; rating input score 38; 38th percentile among comparable filings

Growth

• Program expense growth: 6% per year; rating input score 100; 45th percentile among comparable filings
• Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
• Asset growth: 8.1% per year; rating input score 100; 50th percentile among comparable filings